Profit and loss is the one of major question section in Competitive exams. These formulas will be helpful for your upcoming Exams like PSC, SSC, IBPS and Other Competitive Exams. .
Cost Price(CP) : The Price at which a particular item purchased, is called its Cost Price. Selling Price (SP): The price at which a particular item is sold, called its Selling Price. Profit: If Selling Price of an item is more than Cost Price , then vendor is said to have a Profit. Loss: if Selling Price of an item is less than Cost Price, the vendor said to have a Loss.